Crypto Markets See $2B in Liquidations Before Rebounding on Meme Coin and AI Token Gains
• Bitcoin and major tokens dropped over the weekend, with $2B in futures positions liquidated, before starting to recover • Meme coins and AI tokens led gains in the past day, jumping 15-17% on average • Bitcoin was trading around $66,600, buoyed by potential spot BTC and ETH ETF approvals in Hong Kong • Declines were attributed to profit-taking ahead of this week's bitcoin halving event and macroeconomic uncertainties • Open interest plunged $13B since Friday as leveraged bets were closed out amidst the volatility